> If You Leave Your Position

If You Leave Your Position

If you leave your VSDP-covered position or retire from VRS as a VSDP-covered employee, you have the option to continue your long-term care coverage at group rates. You will be responsible for paying for the cost of coverage.

Eligibility and Benefits

To continue your coverage, you must complete the VSDP Long-Term Care Plan Authorization of Coverage Retention form within 60 calendar days of your last day of VSDP-covered employment.
You must meet the same eligibility requirements as active VSDP participants.
You are eligible for the same benefits as active participants.

Additional Plan Features

Contingent Lapse Benefit

If a substantial premium rate increase occurs, you may continue coverage at current benefit levels by:

Paying the new premium, which allows you to receive the same daily benefit amount and lifetime maximum amount you had before the increase;
Decreasing your daily benefit amount to an amount that the premium you were paying before the increase would purchase. This would result in a decrease in your lifetime maximum benefit; or
Keeping the same daily benefit amount but reducing your lifetime maximum benefit. The new lifetime maximum benefit would equal the amount of the total premiums paid or 30 times your daily benefit amount, whichever is less.

Inflation Protection

To help protect against inflation, you will have an opportunity to increase your daily benefit amount every five years during a special enrollment period. You may purchase a minimum of $1 up to 5 percent of your current daily benefit amount, compounded each year of the preceding five years. This amount plus your previous daily benefit amount becomes your new daily benefit amount for the next five-year period. You must take advantage of this offer to continue receiving future offers to increase your coverage.

Premium Waiver

You are not required to make premium payments while you are receiving benefits, provided you have met the 90-day waiting period.

Restoration of Benefits

Your lifetime maximum benefit will be restored by the amount you receive in benefits when you recover from your condition and begin making premium payments again. You must resume your premium payments for at least 90 days to be eligible for a restoration of benefits.

More Information

Call the Long Term Care Group, Inc. toll free at 1-800-761-4057 to learn more about continuing your VSDP long-term care coverage.